Wu Blockchain reports the expected countdown for Bitcoin, Litecoin and DASH halving events, citing data from multi-crypto chain explorer OKLINK.
According to OKLINK, there are only 100 days left in the countdown to the halving of LTC. After the halving, the block reward will be reduced from 12.5 to 6.25. The countdown to DASH halving is 58 days, and the countdown to BTC halving is 369 days. https://t.co/SFRZUmfM5W pic.twitter.com/bo52dpmPZ9— Wu Blockchain (@WuBlockchain) April 24, 2023
According to OKLINK, there are only 100 days left before Litecoin's next halving event. The countdown to the DASH halving event is 58 days, while that for BTC halving is 369 days.
Bitcoin is slightly more than a year away — about 369 days away — from its halving event. According to OKLINK, the estimated date is April 27, 2024.
Halving slashes in half the amount of coins that Bitcoin miners receive as rewards. The quadrennial event is part of the process of capping the Bitcoin supply at 21 million tokens.
Based on historical cycles, the impending halving is presently priced in by 50%, according to Jamie Douglas Coutts, a Bloomberg Intelligence analyst. According to Coutts, Bitcoin might reach $50,000 by April 2024.
Although many things have changed and the network is much stronger, Coutts noted that Bitcoin has never experienced a prolonged period of severe economic contraction. "Bitcoin cycles bottom around 12 to 18 months prior to the halving," he added.
The upcoming and third halving event in Litecoin is expected to happen on approximately Aug. 2, 2023, according to OKLINK, which gives a countdown of 100 days to this anticipated event.
The first halving event occurred on Aug. 25, 2015, at a block height of 840,000. The second halving event occurred on Aug. 5, 2019, at a block height of 1,680,000.
After every 840,000 blocks are mined (roughly every four years), the block reward halves and will keep on reducing until the block reward per block hits zero (around the year 2142). The block reward is currently 12.5 coins for each block and will eventually halve to 6.25 coins per block in the next halving event.
Dash halving occurs on the Dash blockchain approximately every four years (or every 840,000 blocks), where the block reward for miners is slashed by half.
The expected date for DASH halving is June 22, 2023, according to OKLINK, which gives a countdown of about 58 days.
The halving event is a crucial one for the Dash network because it has an impact on how many new coins are put into circulation, which has an impact on the supply and demand dynamics of the cryptocurrency.